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August 2022
24 Aug 2022 $8.7 mill mortgage fraud case nears end
24 Aug 2022 MMC, now Apex, gets new CEO
24 Aug 2022 From famine to feast
24 Aug 2022 Lengthy mortgage fraud case draws towards a conclusion
24 Aug 2022 Market adjustment continues
23 Aug 2022 NZ’s market slumps on Wall Street worries
23 Aug 2022 Heartland group boosts earnings
22 Aug 2022 Energy stocks hike up NZ’s market
22 Aug 2022 Mercer makes CIO appointment
22 Aug 2022 Govt pays $2.1 bill for Kiwibank
22 Aug 2022 Govt buys back Kiwibank
22 Aug 2022 Here's a plan to fix gender gap
22 Aug 2022 Entire mortgage industry at stake from unethical behaviour
21 Aug 2022 Lack of understanding around ACC worrying
19 Aug 2022 F&P Healthcare drags market down with lower half-year profit expected
19 Aug 2022 [The Wrap] One good deal; One dud deal
19 Aug 2022 Kiwibank signing up more mortgage advisers
19 Aug 2022 Kiwibank to double number of advisers
19 Aug 2022 AFT hits an important milestone
19 Aug 2022 Crypto warning issued
19 Aug 2022 Land supply restrictions main cause of rampant house prices
19 Aug 2022 Report helps advisers grow their businesses
18 Aug 2022 Auckland Airport’s outlook drags down shares
18 Aug 2022 Kiwibank's best ever results; RBNZ says its on top of inflation
18 Aug 2022 Kiwibank reports best ever results
18 Aug 2022 House profits dropping and some owners in negative equity
18 Aug 2022 RBNZ sounds a confident note on inflation
18 Aug 2022 Competition in professional development grows
17 Aug 2022 Fletcher Building pulls market higher
17 Aug 2022 OCR up again: Ongoing monetary tightening
17 Aug 2022 OCR up again: What the RBNZ said
17 Aug 2022 Big rise in costs for home owners; Non-banks eating into big banks
17 Aug 2022 Rent freeze suggested to private landlords’ surprise
17 Aug 2022 Big rise in costs for home owners; Non-banks eating into big banks
17 Aug 2022 Privacy is the issue no one is talking about
16 Aug 2022 Mercury shares fall 3% after release of full year result
16 Aug 2022 Boom in construction to fade over next few years
16 Aug 2022 Dodgy financial adviser in more trouble with FMA
16 Aug 2022 Fidelity Life establishes adviser council
16 Aug 2022 FMA ratchets up its campaign for better ESG disclosure from fund managers
15 Aug 2022 Contact Energy kicks off earnings season
15 Aug 2022 Falling home loan rates likely to irk RBNZ
15 Aug 2022 Tax exemption discriminates against ordinary landlords
15 Aug 2022 Fisher finally lands Kiwi Wealth
15 Aug 2022 Needs analysis focus: what data do you need?
15 Aug 2022 FMA fights hard to avoid unconscious bias: Hewes
12 Aug 2022 Partners Life sold: Price $1 billion
12 Aug 2022 NZ dollar rise pinches big exporters
12 Aug 2022 A renewed inflation battle expected next Wednesday
12 Aug 2022 $6.3 billion wiped off KiwiSaver
12 Aug 2022 House prices have further to fall
11 Aug 2022 NZ shares rise slightly on Wall Street optimism
11 Aug 2022 Property market slump deepens
11 Aug 2022 Changes at Pie Funds following departures
11 Aug 2022 New pie like fund being baked
10 Aug 2022 A2 shares plunge over FDA formula deferral
10 Aug 2022 SHARE CEO departs; ASB increases profit
10 Aug 2022 SHARE loses its boss
10 Aug 2022 Cigna admits making error
10 Aug 2022 ASB reports $1.42 bill profit
10 Aug 2022 Consumers have lost trust in financial services
09 Aug 2022 NZ shares rise on another quiet day
09 Aug 2022 Kiwibank cuts rates for green improvements
09 Aug 2022 Tough year but Asteron happy with its results
09 Aug 2022 Staggering drop in housing market annual growth
09 Aug 2022 Mint CIO takes leave
09 Aug 2022 CoFI a journey of frustration: CEO
08 Aug 2022 Some good news on inflation
08 Aug 2022 Latest survey good news for the RBNZ
08 Aug 2022 Countdown to earnings season puts NZ shares in limbo
08 Aug 2022 New push to get advisers fully licensed
08 Aug 2022 Rental prices inch up; property sales slump to new low
05 Aug 2022 NZ market looks to be in better heart
05 Aug 2022 Inflation really weighs on returns
05 Aug 2022 A first for Smartshares
05 Aug 2022 What advisers can take from the FMA’s first big consumer survey
04 Aug 2022 Investors cheered by Briscoe's optimism for rest of the year
04 Aug 2022 Residential sector not working as well as it could be
04 Aug 2022 CCCFA changes wrong: Bankers Association; BNZ joins rate cutters
04 Aug 2022 What consumers think of financial advisers
03 Aug 2022 Higher unemployment spurs interest in NZX50
03 Aug 2022 Second set of changes to CCCFA “wrong option” Bankers Assn
03 Aug 2022 Slightly higher unemployment figures no boon for borrowers – experts
03 Aug 2022 Biggest fall in house prices for 14 years
03 Aug 2022 Building consents sink
03 Aug 2022 ANZ cuts rates
02 Aug 2022 Speculative A2 Milk spike drags NZX50 higher
02 Aug 2022 Fishers tipped to catch Kiwi Wealth
02 Aug 2022 Next round of CCCFA changes announced
02 Aug 2022 Second tranche of CCCFA changes announced
02 Aug 2022 Fidelity backs two non-profits
02 Aug 2022 [OPINION] Property market, Labour Government and Reserve Bank: an adversarial and unconstructive relationship
02 Aug 2022 Financial pressure hits the borrowing public
01 Aug 2022 Pacific Edge shares plunge on risk of revenue loss
01 Aug 2022 Covid predictions – how did we do?
01 Aug 2022 Jarden to build online investing platform
01 Aug 2022 Kiwibank takes one-year rate below 5%; Economic data may put more pressure on rates
01 Aug 2022 Lower unemployment forecast – with high interest rates to follow
01 Aug 2022 Bond service to get massive upgrade
01 Aug 2022 FMA set to release major consumer research ahead of COFI conduct regime
Latest News
Pie Funds enters adviser channel
Pie Funds enters adviser channel
3 min read
KiwiSaver members need more advice at retirement, panellists say
KiwiSaver members need more advice at retirement, panellists say
3 min read
Simon Papa: Access to advice - Is adviser conservatism the issue?
Simon Papa: Access to advice - Is adviser conservatism the issue?
9 min read
Second funds management firm sold today
Second funds management firm sold today
3 min read
Latest Comments
Give Total Rem the flick if KiwiSaver compulsory
Thank you Backstage. Look beyond just the structure/s. Currently, both employee and employer's contribution are taxed. So, even if I add a 3rd option - $100k salary of which $12k deducted for KS and no employer contribution. It made no difference financially whether it is option a, b or c, assuming law says $12k of the $100k pay package must go to KS. It will make a difference if a new tax law says, employer's contribution is tax free, then option "a" is a no brainer.
2 weeks ago W K
Simon Papa: Access to advice - Is adviser conservatism the issue?
Thank you Simon for such a substantial and thought-provoking piece. You write that “the CoFI law creates the potential for the FMA to influence the supply of financial products and services, not just conduct in relation to such supply”, to which I would offer two replies: Yes; and About Time. Your piece (and also your submission on the draft Fair Outcomes Guide) do suggest a preference for Rational Choice Theory and the Efficient Market Hypothesis. The problems with this being: Humans are not ideally-rational agents, and even if they were, the market is problematically inefficient. The latter is by design, by and for the benefit of the financial institutions. Informational asymmetries mean that consumers often don’t/can’t obtain the information they need to make an informed choice about whether to acquire, retain, or dispose of a financial advice product. (Good luck finding out the actual/modelled loss ratio on optional benefit x on product y.) Extending conduct requirements/expectations beyond supply, into areas such as design and pricing over the full life cycle of products and service offered, should help rebalance the scales. I agree with you when you write: “What is “fair” is inherently vague and contestable.” It doesn’t follow that it is unsuitable. Financial services law is full of such terms: “reasonable,” “care,” “diligence,” and “skill” immediately spring to mind. “Unusually large transaction” and “unusual pattern of transactions” from 22(1)(c) of the AML/CFT Act are vague, and currently subject to contest in FMA v InvestNow. Finally, I agree that more FADC cases would be helpful. Also helpful would be more details from enforcement cases the FMA has taken over the years. For example: Where a FAP was found to have breached the Record Keeping standard condition, provide a couple of (suitably redacted) examples of deficient files, along with explanatory commentary. If your files look like that, then do better.
2 weeks ago Paul Flood
Give Total Rem the flick if KiwiSaver compulsory
@WK agree with your summary and Murray, "exactly". Im a little confused about the statement, total rem has got to go? Even more confused by am mentat... blatant wage theft? Confused about young people not thinking about retirement or insurance? I have had the unfortunate experience at times working for multi national insurance companies and I do not recall them trying to get their mits on my wages, when did this happen? For centuries young people have not been able to picture themselves retired or believe that they will be multi-millionaires by this time. By the way, i bet they have a bank account. Hopefully am mentat works it out or, if he is a prosperous employer just continues to give give give to his employees with wild abandon and continues to cheer on any political parties that place more financial burdens on small business where generally the owner has risked all to try and get ahead. Employing people and helping in this way to provide for there families also.
2 weeks ago Darryl Scott
Give Total Rem the flick if KiwiSaver compulsory
As an investor, it is completely unacceptable to me that Total Remuneration continues if compulsion is brought in. It is simply wrong to continue putting downward pressure on salary and wages, particularly for people on minimum wage in a country that aspires to lift wages over time and raise the standard of living for NZers. National will lose my vote as a serious investor if they continue down the Total Remuneration path. No question...
2 weeks ago David Lawton
Give Total Rem the flick if KiwiSaver compulsory
This is just about the only online space outside of Newstalk ZB facebook comments where speaking out against blatant wage theft by multinationals is considered 'PC'. And yet still we wonder why those pesky younger generations of potential customers wholesale refuse to engage with traditional financial services. Couldn't be because our mindsets are stuck in the 1950s - no, it must be the kids who are wrong.
2 weeks ago Ross Alexander